New Delhi, Jun 2 (PTI) Shares of Schloss Bangalore, which operates Leela Palaces Hotels and Resorts, on Monday listed with a discount of nearly 7 per cent against the issue price of Rs 435.

The stock made its debut at Rs 406.50, down 6.55 per cent from the issue price, on the BSE. Later, it tanked 7 per cent to Rs 404.45.

Also Read | Shillong Teer Results Today, June 02 2025: Winning Numbers, Result Chart for Shillong Morning Teer, Shillong Night Teer, Khanapara Teer, Juwai Teer and Jowai Ladrymbai.

At the NSE, shares of the firm listed at Rs 406, a discount of 6.66 per cent.

The company's market valuation stood at Rs 13,642.18 crore.

Also Read | Bodoland Lottery Result Today, June 01, 2025: Assam State Lottery Sambad Sunday Lucky Draw Results Declared, Check Winners List With Ticket Numbers.

The initial share sale of Schloss Bangalore received 4.50 times subscription on the closing day of bidding on Wednesday last week.

The Initial Public Offer (IPO) had a price band of Rs 413-435 per share.

Schloss Bangalore, which is backed by Brookfield Asset Management, plans to use the proceeds of the fresh issue to pay loans availed by the company and its subsidiaries and for general corporate purposes.

Schloss Bangalore, known for its luxurious hotels and resorts under "The Leela" brand, had a portfolio of 3,382 keys across 12 operational hotels as of May 31, 2024. Its portfolio includes The Leela Palaces, The Leela Hotels, and The Leela Resorts, located across 10 destinations in the country.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)